Brown & Brown Insurance | |
Company type | Public company |
ISIN | US1152361010 |
Industry | Property & casualty insurance |
Founded | 1939[1] |
Headquarters | Daytona Beach, Florida, U.S. |
Key people | |
Revenue | US$3.051 billion (2021) [2] |
US$587.1 million (2021) [2] | |
Total assets | US$9.79 billion (2021) [2] |
Total equity | US$4.19 billion (2021) [2] |
Owner | J. Hyatt Brown, 13.3% [3] |
Number of employees | 14,500 (2021) [2] |
Website |
bbinsurance |
Brown & Brown, Inc. (Brown & Brown Insurance) is an insurance brokerage firm, specialising in risk management. Headquartered in Daytona Beach, Florida, Brown & Brown has 450+ locations worldwide.
In 2021 the company ranked as the fifth largest independent insurance brokerage in the U.S. and sixth largest in the world by Business Insurance magazine. [4]
Brown & Brown was co-founded by J. Adrian Brown in 1939. His son, J. Hyatt Brown, became CEO in 1961, a position he held until 2009. Under Hyatt, Brown & Brown expanded from a small local, family-owned insurance agency with a single office in Daytona Beach to one of the nation's largest insurance brokerages with offices nationwide. [5]
In March 2022, it was announced Brown & Brown had completed the acquisition two property-focused insurance companies - Florida-based Orchid Underwriters Agency and Texas-based CrossCover Insurance Services. [6]
In June of 2022, Brown & Brown acquired Profits Creation, a vehicle dealer supplier, for an undisclosed sum. [7] Brown & Brown extended their reach in the United Kingdom when they acquired Global Risk Partners in 2022. [8]
In December 2023, Brown & Brown announced an agreement to acquire Caton-Hosey Insurance. This transaction is expected to strengthen Brown & Brown’s footprint in Florida. Subject to certain requirements, this deal is scheduled to conclude in early January 2024.
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